Verizon Eyes Up to 20,000 Layoffs as New CEO Takes Charge (2)

Verizon Communications Inc. is discussing plans to announce job cuts next week that could downsize the company by as much as 20%, according to people familiar with the wireless carrier’s plans, a major step in a transformation led by new Chief Executive Officer Dan Schulman.

The size and scope of the potential layoffs are still being discussed, but they could impact 15,000 to 20,000 workers, the people said. Verizon has about 100,000 employees. The planned cuts are part of an aggressive strategy that Schulman recently unveiled to reclaim market share.

The dismissals are expected to extend to employees at ...